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Q. 12. Shri Ram deposited Rs. 20,000 for2years in fixed deposite account. If the rate ofinterest is 6% per year and interest is compounded half yearly, then how much wil heuch will hereceive the amount after the fixed date? |
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Answer» Compount interest = 20000(1+6/100)^2*2 = 2000(106/100)⁴ = 2000*1.26247696 = 2,524.95392 Amount = 22525.95 |
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